Chief attributes and developmental cost regarding POS ?

pos software development

What Is A Point Of Sale System?

Retail and Restaurants are main sources of our routine purchases and in case your store is only accepting cash, you end up being short-changing yourself. Cash is very limited these days as the buzz is on digital wallets and approximately 95% of all transactions happen via a Restaurant or Retail POS system. These devices process customer purchases, tackle payments, and document sales.

A good Retail POS system assists you in achieving a lot with new technologies such as handling inventory & customers, empowering your staff, monitoring purchases, and spot & reward regular/loyal customers. Everyone is aware of these advantages. But, to have an expandable POS system, it is critical to find the right POS System Development Company that has knowledgeable and experienced developers with good understanding of your industry vertical.

A Guide to POS Features

There happen to be several aspects you should look into while researching about the company, but the first thing to consider is whether to go for an old-fashioned POS or mobile POS.

Traditional POS System: The elements of this device include a stationary touch-screen computer display, credit card reader, and cash drawer. Extra pieces might have printers and scanners.

Mobile POS System (mPOS): This is generally a tablet configuration which is used both in stationary and mobile apps. It is useful with or in lieu of the traditional stationary point-of-sales systems.

It is tough to select a traditional POS or mPOS but you are left with no choice. In this matter, look into other factors that could affect your business:

4 Questions to ponder over prior to Buying a POS

Do I Require The Fastest Processor In The Market?

Having a good processor speed is no guarantee for better performance. Today things have changed as technology has touched a point of diminishing returns. The variation in a mid-tier processor and a top-tier processor in a retail or restaurant hardware is hardly a prominent matter. The mid-tier can be sufficient for the majority of businesses.

Does My POS Have Any Kind Of Physical Longevity?

The criticality of durability is quite apparent but it is not easy to tell these days the longevity of a piece of hardware. Every hardware supplier boasts about the durability of their products. When a POS hardware vendor says their product is long-lasting then you have to ask about:

Spill and drip

Dust, lint, and debris


Surge and lightning


Electrostatic discharge

Impact, drop, vibration, and shock


Environmental: thermal and humidity


Electromagnetic compatibility: radiated immunity and radiated emissions

Is it a Must for Point-Of-Sale Hardware to be Built Specifically For A Retail, Restaurant, Or Any Other Environment?

Certain suppliers utilize the same hardware for every business hardware setups. However, you should know the differences to make a good decision for your business.

You can begin to see decision making prospects opening up when you imagine the manners in which your business will utilize a POS system. Some important questions to consider are:

Is any hardware proprietary or is it possible to own it?


Is the system feature ideal for your business needs of the future?


How much does the software cost?


How much money to be kept apart for hidden charges?


Is there a requirement to sign a contract?


How to select the apt POS System in terms of Size, Scale & Space?

In case your business location is restricted in space then you should consider the tablet POS; their configuration is easy and size is tiny vis a vis traditional POS systems. It gives you adequate foot space in your store. The mPOS systems are attractive and ideal for closed spaces as they provide a flexible solution. These can be utilized in mobile and stationary setups. But, if you are going to function in a bigger retail space with several checkouts, you can go for a traditional point-of-sale system. These are huge and come with a package of solutions that carry critical peripherals usually used at a checkout.

5 Excellent POS Systems 2019:

  • Verifone
  • Clover
  • Ingenico
  • First Data
  • Equinox

POS Software Elements

Cloud-Based (Saas) or Software-as-a-Service happens to be a system that can be accessed and assisted via the internet. If the internet goes down, most POS systems can monitor sales and sync once the connection comes back.

On-Premise is the one that requires a business to purchase one or more licenses directly from the software; which can be installed on the servers or computer system. In case you have a big organization to track then it might turn very inconvenient to update and maintain the software by yourself. You should look at taking the help of a dedicated IT professional.

POS Hardware Components

This is a list of the rudimentary hardware elements needed to assist any POS system

  • Touchscreen Monitor
  • Barcode Scanner
  • Cash Drawer
  • Pole Display
  • Magnetic stripe reader
  • Receipt printer

How Does POS Help You?

Data is of paramount significance currently when it comes to decision making. Earlier, mere conjectures were the real source. This implies that you require all data you get from anyone who communicates with your business. Data such as customer buying/return history, sales detailed by item, reports on stock inventory, and monthly/yearly/seasonal sales reports. Devoid of these, your business growth can go for a toss. Other beneficial reasons that come to mind are:

  • Expedite report generation
  • Cuts down inventory overhead
  • Quicken busy checkout lines
  • Superior services for customers
  • Offer prompt inventory data to vendors
  • Maximize traffic online & offline in your store
  • Time saved on back-office inventory operations

9 Essential Aspects In Your Point-Of-Sale System

Integration: Your POS system must possess a configuration to be merged with other segments. For example, accounting, time & attendance, inventory management, loyalty & gift cards, etc. If your system is integrated then room for errors and discrepancies will be very frugal.

Employee Management: This tool is basically for your employees logging in and out post their shift. This even helps in dealing with employees’ schedules and payroll.

Inventory Management: Inventory thinning is an issue all businesses confront. You should deal with this matter straight away by handling the on-site inventory quantity. This inventory management provides you some room for your stock at every time.

Customer Management: Find and rapidly spike the number of good consumers with this feature. This procedure will gather data on your customers’ past purchases and thereby permitting you to find out your most useful customers through their spending pattern. This additional clarity transparency can be accessed with a POS system.

Sales Reporting & Analytics: Apart from monitoring the quantity of your selling products this system even reflects the revenue you are earning on each product. Understanding the lucrative items in your business permits you to devote your time and effort judiciously.

Mobile/Tablet Access: The mobile & tablet POS access takes immobility out of your life. You can obtain access to your POS system from anywhere.

Streamlined Purchasing: This is an important feature that cannot be ignored. The process involved in a company to get goods and services can affect your business’ profit margin, cost, and entire success.

Customer Relation Management: The system keeps the portfolio of frequent customers which permits the business to get particulars such as a customer’s previous purchase, time they were originally included etc. Hence, improving the customer experience by understanding the customer personally.

Stock Management: This is time saving as critical information is being tracked properly. You easily handle bulk, understand top sellers, establish order triggers for sales, scan items anywhere etc. This aspect cuts down the time spent on physically ordering and computing your supply levels.

Extra POS Features:

Quick & Precise Billing: The manual steps involved in carrying out a transaction will come down drastically and hence improving employee productivity and performance.

Safety: Every POS system would follow the Payment Card Industry Data Security Standard (PCI DSS). This assists in safeguarding the critical customer data such as CC numbers and phone numbers.

Potent Reporting: It assists you in getting to know what is happening in each department of your business minus overseeing each department. Robust reporting permits you to identify patterns, view where the problem is, and where the prospect of growth lies. Such detailed info allows you to observe your inventory for an SKU-level view of your sales.

Quicken Growth with Multi-Unit Management: Having a sole franchise can aid you in seeing the requirement to save on costs and opt for a medium with lesser features. The ideal thing to do is to opt for a franchise point-of-sale system that enables you to handle several units through a single dashboard. It can be easier for you to expand when your system is equipped with multi-unit handling abilities permitting you to deal with various stores properly.

What is the cost of A POS System?

Pricing Prototypes

Pay-Per-Month: This happens to be the most sought after system in the market at present. Prices differ as per the brand you opt for and how the initial discussions pan out. The base pricing will be fixed according to per user or Register. The variations stand out when you have a requirement for only one register or multiple, and the number of employees working. The present pricing model in the market differs from $35-$40 for minor retail stores and for big businesses $50 would be the starting rate.

Pay All At Once: This is not utilized commonly as it entails huge upfront costs.

Hidden Charges

All industries have some covert fees involved when it comes to making a POS system. You should ask questions regarding your prospective establishment and then get an understanding of all costs.

Hardware Expense: Ensure every hardware expenses are added in your estimate. There might be sudden surprises like believing that you require one PC or Tablet for a register however you might as well have to purchase a whole kit to cater to it. This is the point where pricing models differ marginally as software companies regularly bring these kits where the prices differ.

Customer Service Charges: Each vendor tackles their customer service independently. You might see certain companies providing free services including free training and live chat; On the other hand, certain vendors would levy extra services. So, keep track of those vendors, who can be beneficial to your business, and those extra costs to the total estimate.

Credit Card Charges: Keep in mind the percentage of each solution charge as that variable would lead to extra fees. It might be a time-consuming affair to set a detailed estimate to begin with but you have to be ready and precise on the basic estimate.

Extra Features: It is better to remember that any feature you wish to include in your POS system might entail a hidden cost. Usual norm with companies is to levy extra reporting features. Monitor all the features included to be clear about your estimated costs.

While building a POS system, consider these above-mentioned hidden costs to assist you in selecting the apt POS Software Development company that is perfect for your budget, business requirements, and needs from the system.

What you can anticipate in terms of payment?

You should be prepared to pay something in the range of 2% – 3% of your yearly revenue and between 12% – 18% of that expense for annual maintenance and upgrades. If you are a small to medium retail store, then you can avail more free alternatives in the markets. Eventually, identifying the predicted costs for a POS system needs time, research, and a good understanding of what your business requires at present and going forward. With technical evolution, possessing a POS system attached to your business is important to encourage growth.

It is better to appoint a team of skillful POS Software Developers with very good understanding of some of the POS systems in the market you are trying to study in detail.

How digital banking can save your day in these tough times?

How digital banking can save your day in these tough times?

Introduction

With the Covid-19 continuing its infectious spread, banks and the financial sector are in dire need of new and refreshing customer experience. They have to get adjusted to the changed realities to serve and maintain their customers and involve them remotely. In order to deal with the challenges posed and stay afloat, several banks have transmitted positive vibes like perks of online banking to their customers’. Services such as comfort of performing round-the-clock transactions and access of instant information regarding their account happened to be measures which banks have taken these days to retain their customers. Also, some banks are even having tutorials to create awareness among their tech-unfriendly customers and upgrading the scope and type of transactions to maximize the use.

With the Covid-induced social distancing measures in place, the use of Digital banking has gone up immensely. This will have a direct bearing on how people will carry out banking transactions in future as well. Even users have taken to digital banking like fish to water as visits to brick-and-mortar branches have reduced.

Components that are highly likely to be affected shortly.

Changes in digital customer experience

Digital transformation has made its way into the banking and finance sectors some years back, and Covid 19 has only expedited the process. Instead of a luxury, this has become a necessity in the current scenario for banks and financial institutions. As per McKinsey report, customers who happened to be happy over digital banking experience will in all probability open new accounts and create more positive word of mouth. With social distancing being the new normal, banking procedures such as customer onboarding and product origination will be digitalized to offer an incredible digital experience to customers at the cool confines of their abodes.

More emphasis on engagement

With high perks on offer customers are highly likely to shift towards involvement through a digital banking experience. With digital transactions being more convenient and involving zilch physical efforts the trend will gain more traction even after the Covid-19 problems subside.

As per Harvard Business Review, the major repercussion of the pandemic is poised to be the spike in data-enabled services in every aspect of life. This means not just the operations arena, but banks will have to work harder in the domains of virtual sales and marketing to promote those services. Through data analytics tools and instant campaign management, banks will be able to transform customer data into logical insights and utilize the same via making the correct decisions at the appropriate time. This will assist banks to accelerate both involvement and bottom line in the post-Covid scenario.

Embracing next-gen tech

In the approaching years, banks will see a lot of changes in the digital market. Hence, banks and financial institutions will become increasingly receptive to embracing new technologies to add more convenience to their lives. Banks will even welcome more expandable and flexible technologies such as AI, Machine Learning, and Cloud platforms to serve the customers in the best possible manner. But, this evolving scenario will heighten competition, which would prompt banks to keep on delivering new improvements and features through their banking apps.

Finally

Hence, it is easy to surmise that the digital trends that have caught the imaginations of many are highly likely to flourish as a result of the pandemic. Retail banks and other financial institutions that can change their work patterns in line with the existing reality, adopting digital technologies, will make more more impact in the mercurial market in the future.

We can assist you with digital transformation techniques through our development and industry expertise. In case you wish to learn more about how we can aid you in these tough times then approach us without any hesitation.

How can businesses benefit with Airbnb’s API?

How can businesses benefit with Airbnb's API?

Airbnb started off in 2008 with the objective of transforming the landscape of vacation rentals or Short-term rentals. Over the years, it has evolved into one of the biggest entities with footprints worldwide and a robust brand name. It provides a perfect platform for people to rent out their vacant residential spaces for travelers or tourists for a short duration. The duration could be one day or several months at a time. Presently, the Airbnb has ceased to be a mere trading space that connects hosts and tourists. It has gone way beyond the realm of rooms and apartments. The platform, currently, also provides local experiences and exclusive information on premium rental spaces for those eyeing world class amenities and facilities. In fact, the Airbnb is also eyeing a bigger pie in the hospitality segment by exploring new arenas.

The online marketplace has also provided people the opportunity to start independent property rental businesses. Over here, they are only required to deliver the property. The other essential things such as the listing, money transactions and customer assistance are very well looked after by the Airbnb. So, the platform has opened several potential business opportunities and it offers all kinds of assistance to business owners. All these could not have been possible without its Application Programming Interface (API).

What exactly is this API?

An Application Programming Interface (API) is a medium that connects two software applications. The applications cannot interact with each other without an API. The interface is widely-widely used, but not many are aware of the same. This is extremely beneficial for developers. For instance, if an application wants to click photos through the camera of a device, the developer does not have to build a camera interface. He or she only has to utilize the camera API of the operating system to insert the built-in camera interface into their app.

The application interface is significant in the matters of security as well. It can restrict the access control on hardware and software functionality for an app. For example, if an app wants access to a device camera via an API, it could be denied the same by the user upon prompting. This totally eliminates all the possibility for an app to access the camera. So, the API ensures that security of a device is not breached by a third-party software application.

Airbnb’s API not for everyone

The Airbnb came out with a distinct API of its own in 2017. The entity has always tread with caution when it comes to selecting partners. Despite heavy demand, the Airbnb had not given access to its API to other companies to make products using its platform.

However, the platform, eventually, became a part of the developer community in 2017 with its API. Following this, external developers got access to the Airbnb API. But, the API is not yet accessible to everyone as Airbnb has put in place several procedural safeguards to restrict the access. Due to the stringent policy, it becomes extremely tough to access the API. This way Airbnb is treading a unique path compared to other businesses in operation.

Benefits of Airbnb’s API to businesses

For those wanting to list their properties on Airbnb space, its API can be a very handy tool. This aspect motivates developers to incorporate effective tools in the API with which people, who list on Airbnb, can gain good control over the online marketplace.

The API provides users with a tool called OAuth. The tool is an open protocol which facilitates authorization of mobile and web applications conveniently in a standardized manner. The OAuth enables users to update the content and the rates of their listings via a single app.

It should also be noted that APIs permits software to software interaction. This implies that the Airbnb can also dispatch data back to the custom apps. So, when people make bookings via Airbnb platform, they will also get reservation and messaging details via API. This aspect ensures that businesses, which use the platform, can streamline their operations in an effective manner.

The procedure to acquire the Airbnb API

Despite being part of the developer community, the API of Airbnb is not easily accessible. The Airbnb has a very stringent policy in terms of providing access to the API.

Earlier, the interested parties had to fill out a form. Then on the basis of this, the company’s partnership managers took a decision on providing access to the API. However, this process has been put on hold now. Currently, the company’s worldwide team of partner managers is providing access to businesses on the basis of the supply potential, the technological prowess, and the capacity to support shared customers. Hence, the ideal option is to approach the company directly or through the partner managers.

If they permit you as a partner, then the Airbnb will give you API documentation in order to work out a development timeline. Now, developers can finish their task and launch the application.

In case of any doubt, seek the help of Airbnb partner manager. Once things are in place, you can start incorporating the list of lodging on the Airbnb platform through the API connection and start receiving travelers from all around the world.

Benefits of Integrating Airbnb API into your business

There are immense benefits for those businesses looking to integrate the Airbnb’s API. It becomes easier to manage the listing on Airbnb platform. You only need to log in to make any tweaks to the content listed, be it about the vacant space or price. In case you have multiple listing on the website, then you need to manage or change the content manually, which could consume a lot of time. However, with a custom property management software, linked to the website via Airbnb’s API, will help you make any number of amends in quick time.

This happens to be one of the convenient methods to manage list of properties on Airbnb.

In case you are dealing with multitudes of renters, then messaging each and every one manually can be a herculean task. In such a scenario, automated messages are the best options to respond quickly to each and every queries. So, an API-linked software can effectively deal with multiple queries and improve your image among customers.

This also helps in customer creation and retention as they would get a feeling that you would be around in case of any issue. In case, developers require any technical assistance that is not there in the documentation for the API, Airbnb’s worldwide team of partner managers will always be there to help you out.

Also Read : What Is API & How Does It Work ?

Seek expert’s help for API integration

If done properly API integration can work wonders for your business. However, the company would suffer a lot if the same is not performed with due diligence. As discussed previously, the API connects two softwares so as to facilitate effective communication between the two.

Hence it becomes imperative to entrust the task of integrating custom software solutions with APIs to experienced and skilled developers. For this you can trust Winklix with your eyes closed. Winklix happens to be one of the leading software companies across the world, which has successfully partnered with both renowned global brands and startups. Be it the custom CMS, payment gateway, mobile app or API integration with Airbnb, our skilled developers with their high-class expertise have accomplished everything. The company is based out of US with offices in Salt Lake City, Utah. So, get in touch with Winklix for any software development activities or smooth facilitation of Airbnb API integration.